Future-proofing your business for the future

This is part of a series profiling issues at the upcoming webinar, “Changing the Shape of the Future”.

As the world starts accepting the new normal, successful leaders have had to seize opportunities to advance a new trajectory for digital transformation that aligns with the changing role of their businesses.

According to a report by the World Economic Forum, to support one of the greatest resets for modern day economies and societies, digitally-enabled corporate leadership teams have had to transform their businesses into a digital one that cuts across seven key dimensions.

These dimensions are new value creation; digital-at-the-core business models; intelligent and agile operating models; localised and resilient supply chains; real-time decisions at the edge; data-driven investment decisions; and augmented talent.

Successful leaders bracing for the future have had to empower all stakeholders from employees, consumers and suppliers to partners, government and society. And, by and large, they’ve had to effect systems change through digitally enabled collaboration models that correct market failures.

The study added that the time has come for companies to combine the two key agendas. Companies must use digital business models and Fourth Industrial Revolution technologies to transform their businesses and lead systems change at scale.

Many are already advancing on this path. As such, updating business for a digital-first world, led by purpose, is now an imperative for almost every company.

As companies seize the opportunity to integrate purpose with profit and invest in digital transformation to help deliver on their purpose, leaders can use digital transformation to create value along three inter-related paths:

  • Transform business: Reorient digital transformation investments and initiatives to drive sustained long-term value for the company and beyond.
  • Empower stakeholders: Use technology to respond to the needs and priorities of a broader set of stakeholders, including employees, consumers, partners, governments and society.
  • Change systems: Create new collaboration and value-creation models across ecosystems to address global challenges through new markets and enable systemic change.

Want to hear more about trends and innovations that are influencing and changing the future? Catch thought leaders from Twitter, ShopBack, CXA, ADDO AI, Pomelo Fashion, UOB and others at Marketing's upcoming webinar on 29th September to discuss "Changing the Shape of the Future: leading the charge from recovery to resilience". This webinar is complimentary, and brought to you by Samsung, a leader in tech innovation who is shaping the future of mobile experiences with its latest foldable smartphone, the Galaxy Z Fold2 5G.

(Photo courtesy: 123RF)